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1077 Riverwind Circle

Indian River County Acquires Land In Vero Beach For $1.64M With Colliers As Buyer's Rep
SOLDDevelopment Site

Indian River County Acquires Land In Vero Beach For $1.64M With Colliers As Buyer's Rep

1077 Riverwind Circle

$1,640,000

$2/SF

Building Size

673,873 SF

Asset Type

Development Site

Closing

Feb 26, 2026

AI

This transaction involved a land asset located at East End of 45th St, Gifford Dock Road, in Vero Beach, consisting of 12.76 acres, totaling 673,873 square feet. The sale price was $1,640,000, resulting in a price per square foot of $2.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $1,640,000
  • Address: East End of 45th St, Gifford Dock Road
  • Market: Vero Beach
  • Acres: 12.76
  • Square Footage: 673,873
  • Price per Square Foot: $2
  • Buyer: Indian River County
  • Seller: Jeffrey & Annette Maffett - iThink Financial Credit Union
  • Buyer's Representatives: Brooke Mosier, Julian Zuniga, Damian Johnson & Gerard Yetming - Colliers

The buyer, Indian River County, was represented in this transaction by a team from Colliers, which included Brooke Mosier, Julian Zuniga, Damian Johnson, and Gerard Yetming. The seller in this deal comprised Jeffrey and Annette Maffett, along with iThink Financial Credit Union.

Players

Julian Zuniga

Colliers

Broker

$102M

vol

16 deals

Broker

Indian River County

Buyer

$10M

vol

3 deals

Buyer

Jeffrey Maffett

iThink Financial Credit Union

Seller

$1.6M

vol

1 deal

Seller

Vero Beach Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.67%

Cash-on-Cash

-2.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93